Financial advisors who specialize in pension rollover decisions.
Lump sum vs lifetime annuity. Joint-and-survivor elections. FERS and federal pensions. Corporate pension buyout windows. The decision that permanently shapes your retirement income — matched with advisors who've modeled hundreds of them.
The most consequential retirement decision you'll make once
At retirement or job separation, defined-benefit pension holders face a one-time choice that swings $100-500K of lifetime value:
- Take the lifetime annuity — guaranteed monthly income for life, usually with spouse-survivorship options at reduced rate.
- Take the lump sum — roll into an IRA, control the investments, leave any remainder to heirs.
What our matched specialists handle
- Corporate pension buyout windows. Ford, GM, Boeing, IBM, UPS, Procter & Gamble and others have offered time-limited lump-sum buyout programs. Deadlines are usually 60-90 days.
- Federal employees (FERS/CSRS). CSRS retirees face different math than FERS (which has 3-component benefit: pension + TSP + SS). Survivor election choices vary.
- Union pensions. Multi-employer plan dynamics, PBGC coverage questions, funding-status considerations.
- State/municipal pensions. DROP (Deferred Retirement Option Program) elections, inflation-adjusted vs. fixed benefits.
- Private-sector frozen pensions. Company froze the plan years ago; now you face the terminal decision.
- Early retirement windows. Laid-off or accepting a buyout at 55-60 — pension timing can shift.
Tools & guides
Lump Sum vs Annuity Calculator
NPV analysis of your two options, adjusted for longevity + interest rate + survivor assumptions.
Pension Lump Sum Tax Calculator (2026)
See the exact federal income tax you'd owe if you take the lump sum as cash — vs. $0 by rolling over. Uses 2026 brackets. Shows your effective rate and dollar savings.
Pension + Social Security Income Tax Calculator (2026)
How much of your Social Security is taxable when you have pension income? Uses the IRS provisional income formula (IRC §86) with 2026 brackets. Shows the "SS tax torpedo" effect and your total federal tax bill.
Pension Break-Even Age Calculator
At what age do cumulative annuity payments exceed the lump sum? Sensitivity table across 0–7% return assumptions.
Pension Rollover Withdrawal Calculator
Rolled the lump sum to an IRA? See how long it lasts at your planned withdrawal rate — with year-by-year projections, a sensitivity table across return scenarios, and the maximum sustainable monthly withdrawal to age 90 and 95.
J&S Election Calculator
Model the lifetime cost/benefit of 50%, 25%, or no survivor benefit vs. life-only election.
FERS Retirement Planning Guide
Federal employees: survivor election, FERS Supplement, TSP rollover strategy, COLA math, Medicare coordination.
Pension Rollover Decision Guide
Full framework — longevity, survivor, interest rate, employer-specific rules, tax efficiency.
Pension Buyout Window Guide
How lump-sum windows are calculated using IRS segment rates, PBGC protection limits, and whether to take the offer.
Pension Rollover to IRA Guide
Decided on the lump sum? Avoid the 20% withholding trap, execute the direct rollover correctly, and model the NUA and Roth conversion opportunity.
FERS Annuity Calculator
Federal employees: estimate your basic annuity using the 1.0%/1.1% multiplier formula, survivor benefit reduction, and FERS Supplement bridge payment if retiring before 62.
FERS Supplement Earnings Test Calculator (2026)
Retiring before 62? If you plan to work after leaving federal service, the earnings test reduces your FERS Supplement $1 for every $2 you earn above $24,480. Enter your years of service and Social Security estimate to see your net supplement and a year-by-year bridge table to age 62.
CSRS Annuity Calculator
Civil Service Retirement System employees: compute your annuity using the tiered 1.5%/1.75%/2.0% formula, see the exact monthly cost of each survivor election (2.5%/$3,600 + 10% formula), and compare CSRS vs FERS for the same service history.
Military Retirement Pay Calculator (2026)
Calculate your monthly retired pay under High-3, BRS, or Final Pay. Shows gross pay, SBP premium, net pay, and survivor benefit. Compares all three systems side by side — and flags CRDP concurrent receipt if you have a 50%+ VA disability rating.
Pension COLA Value Calculator
How much is your cost-of-living adjustment worth in today's dollars? Enter your FERS, CSRS, or military pension and see the exact NPV premium COLA adds — plus a life-expectancy sensitivity table and 30-year payment growth schedule.
Social Security Claiming Age Calculator for Pension Holders (2026)
Should you claim at 62, 67, or 70 when you have pension income? See your after-tax SS benefit at every claiming age, break-even ages vs. claiming early, and which age maximizes lifetime income at your target life expectancy — with 2026 provisional income rules.
Pension + Social Security Strategy Guide
When to claim SS if you have pension income, the 2025 WEP/GPO repeal and who gets restored benefits, how pension income affects SS taxation, and the bridge-to-70 delay strategy.
Pension Lump Sum Tax Guide
How the IRS taxes your lump sum decision — bracket math for cash-outs, direct rollover deferral, multi-year Roth conversion strategy, Rule of 55 tradeoffs, and state pension exemptions.
Joint-and-Survivor Election Guide
The spousal decision in depth: actuarial cost by age gap, pension max strategy risks, ERISA § 205 consent rules, and how SS survivor benefits interact with your election.
CSRS Retirement Planning Guide
Civil Service Retirement System: tiered annuity formula (1.5/1.75/2%), survivor benefit election, Voluntary Contributions Program Roth conversion, Social Security Fairness Act impact, and CSRS Offset.
Pension Income & Medicare IRMAA Guide
How pension annuity income and IRA RMDs trigger IRMAA surcharges — 2026 bracket table, the Roth conversion window strategy, Form SSA-44 appeals, and how IRMAA factors into the lump sum vs. annuity decision.
Leaving a Job With a Pension Before Retirement
Laid off or changing jobs with a vested pension at 55–62? Understand your three options — leave it, take the lump sum, or start early benefits — plus the age-55 rule, the 20% withholding trap, and how current interest rates affect lump sum offers.
State Income Tax on Pension Income (2026)
Which states don't tax pension income? The 9 no-income-tax states, 7 states with full pension exemptions (including Michigan's new 2026 change), partial-exemption states (Georgia, New York, Colorado), and how state taxes factor into the lump sum vs. annuity math.
Union & Multi-Employer Pension Guide
Most union pensions don't offer lump sums — the decision is which annuity form to elect. Covers PBGC guarantee formula (very different from corporate pensions), zone funding status, ARPA rescue, mandatory small-balance cashouts, and survivor elections under ERISA §205.
403(b) Rollover to IRA Guide for Teachers & Healthcare Workers
Teachers and hospital workers: can you roll your 403(b) to an IRA when you also have a pension? Covers the Rule of 55 trap (rolling destroys it), Roth 403(b) mechanics, the 15-year long-service catch-up unique to 403(b), IRMAA coordination with pension income, and whether to roll before or after 59½.
457(b) Rollover to IRA Guide
State and local government employees: can you roll your 457(b) deferred comp to an IRA? Governmental plans can — non-governmental plans cannot. Covers the no-early-withdrawal-penalty advantage you'll lose by rolling out, the "tainted money" trap, Roth 457(b) mechanics, and how to coordinate with your state pension.
How to Invest a Pension Rollover
You've taken the lump sum — now what? Asset allocation when you have pension income, the pension-as-bond framework, Roth conversion window strategy, RMD risk management, IRMAA awareness, and 5 common post-rollover investment mistakes.
Pension Rollover to Roth IRA Guide
Should you convert your pension rollover to a Roth IRA? No income limit on conversions. 2026 bracket math, the OBBBA $6,000 senior bonus deduction trap, IRMAA threshold ($109K single / $218K MFJ), and a worked example converting $850K over 10 years at 5.8% effective federal rate.
SPIA vs Pension Annuity: Should You Buy an Annuity with Your Lump Sum?
Took the lump sum but want guaranteed income back? A Single Premium Immediate Annuity (SPIA) can replicate monthly pension-style income — but the tax treatment (IRA-funded = 100% taxable; after-tax funded = exclusion ratio), insurer protection ($250K state guaranty vs PBGC), and payout math differ significantly from your original pension.
What Happens to Your Pension When You Die (2026)
QPSA survivor rules (ERISA §205), what your spouse receives based on your annuity election, FERS death benefits ($43,800 + 50% salary lump sum), and how a rolled-over IRA passes to heirs under the 10-year rule. The lump sum vs annuity decision has major implications for what you leave behind.
Corporate Pension Buyout Windows: Ford, Boeing, GM, IBM & More (2026)
Major employers run time-limited lump-sum buyout windows to reduce pension liabilities. How the offer is calculated using IRS §417(e) segment rates, what Ford, GM, Boeing, IBM, GE, and AT&T pension programs look like, the PBGC cap ($7,789/mo) and its implications, and the five questions to answer before you decide.
PBGC Pension Insurance 2026: How Much Is Your Pension Protected?
The $7,789.77/month PBGC cap at age 65. What's excluded (recent benefit increases, early retirement supplements). How plan termination works. Why exceeding the cap changes the lump sum vs. annuity decision — and how much of the excess really has no federal backstop.
72(t) SEPP: Access Your Pension Rollover IRA Before 59½ Without the 10% Penalty
Rolled your pension to an IRA before age 59½ and need income? Section 72(t) substantially equal periodic payments eliminate the early withdrawal penalty — but you're locked in for 5 years or until 59½, whichever is later. Covers the three calculation methods, the modification trap, Rule of 55 comparison, and the partial IRA segregation strategy.
FERS MRA+10 Early Retirement Calculator
Leaving federal service at your Minimum Retirement Age with 10–29 years of service? Compare the reduced immediate annuity (5% per year penalty for each year under 62) vs. postponing to 62 or 60. Shows break-even age, year-by-year cumulative income, and the hidden cost of the lost FERS Supplement.
VERA and VSIP: Should You Take the Federal Early Retirement Offer? (2026)
With agencies offering VERA/VSIP packages in 2026, federal employees face a 30–60 day decision window. Covers FERS annuity math under VERA (no reduction), the FERS Supplement delay if you're under MRA, TSP Rule of 55 timing, FEHB continuation, and the real after-tax value of the $25,000 VSIP buyout.
How matching works
Get your specific pension decision modeled
Fee-only advisor with no commission conflict models your actual numbers. Free match.
Pension Rollover Advisor Match is a matching service. We connect you with vetted fee-only financial advisors in our network — we don't manage money or provide advice ourselves. Advisors in our network are fiduciaries who charge transparent fees (not product commissions), and we match you based on your specific situation.